By Sheri Kasprzak
New York, April 4 - Northland Resources Inc. said it priced its previously announced private placement for C$16.2 million.
The company plans to sell 12 million shares at C$1.35 each.
Pareto Private Equity ASA is the placement agent.
Pareto has a greenshoe for up to 3 million shares.
Proceeds will be used for exploration and development of the company's projects in Sweden and Finland and the advancement of the company's iron-oxide-copper-gold targets.
Based in Vancouver, B.C., Northland is mineral exploration company focused on iron, gold and base metals.
| Issuer: | Northland Resources Inc.
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| Issue: | Stock
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| Amount: | C$16.2 million
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| Shares: | 12 million
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| Greenshoe: | For 3 million shares
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| Price: | C$1.35
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| Warrants: | No
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| Placement agent: | Pareto Private Equity ASA
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| Pricing date: | April 4
|
| Stock symbol: | TSX Venture: NAU
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| Stock price: | C$1.61 at close April 4
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